Q. In the context of planning, what does SWOT analysis stand for?
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A.
Strengths, Weaknesses, Opportunities, Threats
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B.
Systems, Workflows, Objectives, Targets
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C.
Strategies, Workflows, Operations, Tactics
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D.
Sales, Workforce, Operations, Technology
Solution
SWOT analysis stands for Strengths, Weaknesses, Opportunities, and Threats, and is used for strategic planning.
Correct Answer:
A
— Strengths, Weaknesses, Opportunities, Threats
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Q. What is a key characteristic of entrepreneurial leadership?
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A.
Risk aversion
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B.
Innovation and creativity
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C.
Strict adherence to rules
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D.
Focus on stability
Solution
Entrepreneurial leadership is characterized by innovation and creativity, often embracing risk to drive business growth.
Correct Answer:
B
— Innovation and creativity
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Q. What is the main focus of marketing in a business?
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A.
Product development
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B.
Customer satisfaction
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C.
Cost reduction
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D.
Employee training
Solution
The main focus of marketing is customer satisfaction, ensuring that products meet the needs and wants of consumers.
Correct Answer:
B
— Customer satisfaction
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Q. What is the role of an entrepreneur in a business?
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A.
To manage daily operations
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B.
To innovate and take risks
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C.
To oversee financial transactions
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D.
To maintain employee relations
Solution
The role of an entrepreneur is to innovate and take risks to create and grow a business.
Correct Answer:
B
— To innovate and take risks
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Q. Which management principle suggests that employees should report to only one manager?
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A.
Unity of command
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B.
Span of control
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C.
Chain of command
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D.
Delegation
Solution
The unity of command principle suggests that employees should report to only one manager to avoid confusion and conflicting instructions.
Correct Answer:
A
— Unity of command
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